November 03, 2023 06:52 ET | Source: The Insight Partners The Insight Partners
Pune, India, Nov. 03, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Band Saw Blades Market to 2028 – COVID-19 Impact and Global Analysis – by TPI (Less than 3 TPI, 4 TPI to 6 TPI, and More than 7 TPI), Material (Bi-Metal, Carbon Steel, and Others), Application (Wood Cutting and Meat Processing), and Geography,” the market is expected to grow from US$ 1.16 billion in 2022 to US$ 1.34 billion by 2028; it is estimated to grow at a CAGR of 2.5% from 2022 to 2028. Small Band Saw For Crafts
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Band Saw Blades Market: Competitive Landscape and Key Developments
BAHCO (SNA Europe); Dongbei Special Steel Group Co.,Ltd; Friedrich Bickenbach GmbH & Co. KG; Gi - Esse Salvador S.r.l.; HABUR -SAWS GmbH; KYOCERA UNIMERCO; LENOX; NACHI FUJIKOSHI CORP; The Bandsaw Shop; and L. S. Starrett Company are among the key players profiled in the band saw blades market report. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem. The band saw blades market report provides detailed market insights, which would help the key players strategize the growth in the coming years.
In August 2020, LENOX, a leader in carbide cutting performance, introduced GEN-TECH, a new set-style carbide tipped band saw blade for general purpose cutting. GEN-TECH provides versatility, a long blade life, and a cheap cost per cut with creative design and cutting technology.
In April 2020, LENOX announced that The Armor VPTM band saw blade is the latest addition to LENOXline's industrial equipment. For customers seeking excellent cutting rates and prolonged blade life across a variety of materials, the Armor VPTM is the best option.
Global Band Saw Blades Market Scope:
The band saw blades market is driven primarily by the wood-working and construction industries, Especially in the region of Asia-pacific, population growth has led to rise in urbanization. This has directly impacted the market for band saw blades positively. It is a major factor driving the construction industry in the region. In addition, governments in various economies are taking various steps to attract private investments in construction and infrastructure development. For example, the Malaysian Government's Economic Transformation Program 2011–2020 (ETP) attracts huge foreign direct investments in national infrastructure and construction activities. In addition, government initiatives, rapid technological developments, and economic digitization are other factors bolstering the overall economic growth of the region. In addition, the manufacturing industry uses band saw blades in various applications. Therefore, increasing demand for high-band saw blades in the industry is contributing to the band saw blades market growth in APAC.
The US, Canada, and Mexico are among the major economies in North America. The rising standard disposable income of population is influencing the fixtures production enterprises, which propels the demand for band saw blades market in North America. Further, the increased funding in the infrastructure industry is anticipated to drive the growth of the assisting industries, thereby bolstering band saw blades market growth. Furthermore, the construction sector is experiencing expansion owing to the rapid urbanization. The production sector is one of the foremost customers of saws, which also boosts the band saw blade market growth. The increasing use of wood in commercial and residential buildings is a major factor positively affecting the consumption of band saw blades in North America.
2019 was characterized by a rapid recovery in the construction growth in the US and Canada, with the housing sector becoming a major driver of recovery as housing demand increased due to low borrowing costs and rising wages. The pace of growth will accelerate from 2022 as ongoing infrastructure investments and smart city projects are adding momentum to the region's construction industry. Large-scale construction investments are planned nationwide. For example, the Governments of Canada and Alberta have promised more than US$ 50 million to complete several infrastructure projects under the Investment Infrastructure Program in Canada. The Community Infrastructure Improvement Fund (CIIF) allocated US$ 100 million to repair and improve community infrastructure across the country. Therefore, such factors are anticipated to boost the band saw blades market growth in the post pandemic era.
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Band Saw Blades Market: Application Overview
The demand for vertical band saw tools for cutting wood and other nonferrous metal alloys applications is increasing at a rapid pace, which is anticipated to create impressive growth prospects for the band saw blades market size in the coming years. A wide availability of wood cutting blades in a variety of widths and tooth counts suitable for tight curves and straight cuts have increased the demand for high TPI, teeth per inch blade. Economic growth of many Asia pacific nations, including China and India, is projected to boost the band saw blades market share for the wood cutting segment in the coming years. China consists of a large number of manufacturers and has the integration of cutting-edge technologies, which would increase the band saw blades market share. Expansion of the wood processing industry in China is also bolstering the demand for the metal cutting horizontal band saws for wood cutting activities. Japan is rising as one of the prominent wood pellets producers with increasing demands for the portable bandsaw from the biomass industry. Furthermore, benefits such as physical vapor deposition (PVD) coatings to improve tool durability, performance, and cut piece quality and developments of other coating materials such as Titanium, zirconium, and chrome are also increasing the band saw blades market size for wood cutting.
Go through further research published by The Insight Partners:
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